Buffalo Biodiesel Inc. announced a series of executive appointments on June 18, as the company prepares for a major expansion fueled by a $300 million capital partnership with Verite Capital Partners. The moves signal a significant strategic shift for the renewable energy firm, which aims to scale its used cooking oil operations from 15 to 25 states and create more than 600 jobs.
Frank Balon, a veteran corporate executive and attorney, has been appointed President and Chief Legal Officer. Balon previously served as Co-President, Chief Legal Officer and Board Director at Steuben Foods. He takes the helm from founder Sumit Majumdar, who called the appointment a culmination of a 20-year journey. "Buffalo Biodiesel has been my life's work for over two decades. After screening hundreds of talented prospects, I know I am leaving this company in the hands of a highly capable visionary," Majumdar said.
Balon has assembled a leadership team that includes Ryan Haggerty as Chief State Litigator and General Counsel. Haggerty, a former Erie County prosecutor with more than 14 years at the Erie County DA's Office, will oversee state litigation. "Ryan's extensive courtroom experience handling high-stakes criminal conspiracies and state level litigation expands our capability to protect our assets," Balon said.
Former federal prosecutor Jeremiah Lenihan has been named Chief Federal Litigator. Lenihan, who previously served as an Assistant United States Attorney prosecuting organized crime, money laundering, gang activity and financial fraud cases, will lead federal enforcement efforts. "Given Jerry's extensive track record in successful prosecutions at the state and federal levels, coupled with his civil practice, makes him a big help to our enforcement activities," Balon noted.
The company also appointed Peter Grisanti, CPA, MBA, as Chief Financial Officer. "Peter is another component to the rapid increase in scaling for the company and we expect further key positions to be filled in the near future," Balon said.
Founded in 2005 and headquartered in Buffalo, Buffalo Biodiesel serves more than 30,000 restaurants across 15 states through one of the largest used cooking oil operations in the Northeastern U.S. The company plans to expand operations from Montreal to Miami, a corridor that could significantly increase its market share. The appointments strengthen Buffalo Biodiesel's legal, financial and operational capabilities as it enters what company officials describe as the most significant growth period in its history.
The expansion is part of a broader trend in renewable energy, where companies are scaling up to meet demand for sustainable bio-products. Buffalo Biodiesel's focus on collecting and processing renewable feedstocks to manufacture advanced carbon materials and bio-products directly prevents greenhouse gas emissions. With the new leadership team in place, the company is poised to capitalize on the $300 million investment from Verite Capital Partners, though details on how the funds will be allocated remain undisclosed. For more information, visit Buffalo Biodiesel.
